The Price Magnets work to identify areas of unfinished business, this area is supposed to hold many unfinished orders since price moved away from the trading range very rapidly; not giving traders enough time to manage positions accordingly.

We expect predictive price behavior to show itself near this price magnet level, which also coincides with the FTR Support Resistance Indicator. This level tells us that if price can trade above it, it is likely to find support on top of this level.